Piper Sandler Boosts Virtus Investment Partners (NASDAQ:VRTS) Price Target to $274.00

Virtus Investment Partners (NASDAQ:VRTS) had its price objective lifted by analysts at Piper Sandler from $264.00 to $274.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the closed-end fund’s stock. Piper Sandler’s price target points to a potential upside of 10.97% from the company’s current price.

A number of other analysts also recently issued reports on the company. Morgan Stanley lifted their price target on Virtus Investment Partners from $208.00 to $217.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Barclays started coverage on Virtus Investment Partners in a report on Tuesday, August 27th. They issued an “underweight” rating and a $206.00 price target for the company. Finally, StockNews.com cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Monday. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $236.00.

Virtus Investment Partners Price Performance

Shares of VRTS opened at $246.92 on Wednesday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 15.01 and a beta of 1.45. The firm’s fifty day simple moving average is $221.42 and its 200-day simple moving average is $219.90. Virtus Investment Partners has a twelve month low of $190.42 and a twelve month high of $263.39. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VRTS. Quarry LP grew its position in Virtus Investment Partners by 388.5% during the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock worth $27,000 after purchasing an additional 101 shares during the last quarter. Blue Trust Inc. raised its holdings in Virtus Investment Partners by 6,550.0% during the second quarter. Blue Trust Inc. now owns 133 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 131 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Virtus Investment Partners in the second quarter valued at about $42,000. nVerses Capital LLC purchased a new stake in Virtus Investment Partners in the 3rd quarter valued at approximately $42,000. Finally, CWM LLC boosted its holdings in Virtus Investment Partners by 334.1% in the 2nd quarter. CWM LLC now owns 382 shares of the closed-end fund’s stock valued at $86,000 after purchasing an additional 294 shares in the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

About Virtus Investment Partners

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.